Do you feel that the number of responses you’re getting for your Facebook ads is decreasing each and every single day? Are you finding it harder to convert people from your Facebook ads into paying customers than you did two years ago? If you think it’s hard now, it is going to keep getting harder and harder. Today I’m going to discuss, will small businesses still be able to profit from Facebook ads in 2020?
RESOURCES & LINKS:
Why Your Facebook Ads Don’t Work (and How to Make Them Profitable) : https://youtu.be/HYmWww4e3Is
Now before we dive into the details on how small businesses can still do well in 2020, let me go over some basic stats.
Facebook has over seven million active advertisers, that’s according to Facebook’s Chief Operating Officer Sheryl Sandberg.
Active users 2.4 billion.
Facebook has only 342 active users per advertiser.
Not only are more people promoting ads, but it’s getting harder and more expensive to get clicks.
Now when you look at the cost in clicks Facebook ads CPC on news feeds have gotten more expensive this year.
In 2008 Q2 as of roughly 0.43¢, in Q2 of 2019 0.64¢. And the CTR of news feed ads has also decreased. In Q2 of 2018 it was 2.24%, in Q2 of 2019 it was 1.20%.
According to Instapage the average Facebook ad converts roughly 9.21% across all industries. You would have to pay on average $64 to get nine conversions. Conversion doesn’t necessarily mean a sale either in this context, it could be just collecting an email right?
So it doesn’t necessarily mean you’re making a positive ROY. So the real question that comes to mind is, hey you’re a small business, how can you still profit from Facebook, even though ads in many cases are getting less clicks and is getting more expensive.
Well number one don’t go for profit in the first contact with a prospect. It used to be that you would just put ads in front of people, you would send them to your product or service page, try to get them to convert, and boom you’re making money.
And that’s expensive, a great way that we generate sales now and we found this to be much cheaper is, we first take an ad on Facebook drive them to content our educational piece, educate them.
Secondly use retargeting for your ads for really qualified prospects.
So what I mean by this is, one thing we’ve done to generate so much revenue from Facebook, this is our highest ROY converting campaign.
When someone visits a checkout page and they don’t buy, we create a video that shows them what it would be like if they were a customer.
Now if our main offering was using logic to convince them to buy, our video will use emotions. Why you may be wondering? Well if they didn’t convert from logic in the first place, sending them a remarketing campaign or video using logic again probably won’t work, so we do the opposite.
If our landing page is try selling through emotions, our remarketing video uses logic. In addition to that we make sure we add in upsells and downsells, which increases the LTV, which allows you to spend more money on Facebook.
The third tip I have for you is use video ads. Video ads are way cheaper to expose your brand to people because even if they don’t convert right away you’re getting your brand across, and as they say in marketing the rule of seven, the way you build a brand is having someone see and engage with your brand seven times.
If you use video you’re going to get way more engagement for the price because Facebook really wants to push video ads over text-based ads.
Fourth use lookalike audiences, once you have people that are converting, use the 1% lookalike audience on Facebook.
Fifth I want you to test different creatives more often. You’ll be surprised at the difference in performance when you rotate up your creatives at least once a week.
Heck when I run some of my own campaigns, we’re rotating up creatives two to three times a week on the low-end and on the high-end sometimes rotating up creatives daily.
It’s that effective by just cranking out so many creatives, you’ll find that they don’t have as much fatigue and your ROY is better.
Next I want you to keep your ads fresh, it’s not just about the, hey here’s what my banner is, here’s what my creative is.
Next I want you to monitor your ad’s frequency. If people keep seeing your ads multiple times, you’re either not reaching new people, or people keep seeing your ads without converting.
Those two factors will make your ad score decrease and make your cost increase.
► If you need help growing your business check out my ad agency Neil Patel Digital @ https://neilpateldigital.com/
►Subscribe: https://goo.gl/ScRTwc to learn more secret SEO tips.
►Find me on Facebook: https://www.facebook.com/neilkpatel/
►On Instagram: https://instagram.com/neilpatel/
#DigitalMarketing #NeilPatel #FacebookAds
3 Essential Steps to Get Your Business Noticed Online
When it concerns comprehending just how to get your organization observed on the internet there are basically three steps to think about and also execute. As an entrepreneur you no question already comprehend the importance of remaining in the leading edge of your consumers minds and also although each of these 3 actions is a task by itself, they will certainly aid you come to be effective in developing a great online existence as well as reputation for your service.How To Gain Clients Online
If you give your solutions online, than it’s important that you regularly look for customers. If you do, after that you will certainly see a change in your revenues. Right here are some different techniques that you can utilize to obtain even more of the clients that you need to prosper online.Online Marketing Services Are an Indispensable Contribution for Website Popularity
When you assume regarding having your very own web site or transacting company on the net, there really is really little point talking up the entire endeavor if nobody is able to visit you. The entire factor of appreciating an existence on the internet is so that individuals can learn much more concerning you and you have the ability to utilize this platform to generate more riches.Internet Marketing Services Can Provide Quality Keyword Research
When it comes to enhancing the internet search engine ranking of your firm website, performing considerable keyword research is one task which is ideal left in the hands of specialist marketing solutions. Doing keyword research can be a time consuming and also complex job if you do not have experience in doing so. If you make a mistake after that the research study may well be entirely pointless, or even worse, it could in fact cause even more damages than excellent.
In the existing technical age, it is important to establish a strong net existence in order to promote your services and products as successfully as feasible. The net provides businesses the chance to connect to huge volumes of consumers around the world enabling even small company owners to accomplish worldwide success as well as acknowledgment. Web marketing services can help you to meet your potential by driving net website traffic to your web site making use of a range of various methods.Internet Marketing Services To Improve Internet Presence
We stay in an electronic age, and also as an outcome, one of the most crucial element of any kind of business’ promotional or advertising project is establishing a solid internet existence. Utilizing web marketing solutions properly will establish your business on the internet, supplying brand name recognition in countries in all edges of the globe. It is essential for firms to have actually a well designed web site to advertise their services and products to internet customers who are looking for info before picking which services or product to acquire. Nevertheless, without correct internet advertising solutions, also the most appealing site is basically worthless.Baby Boomers, Is the Digital Era the Answer to Our Future?
As the old saying we are all also acquainted with goes, “If I only knew after that what I recognize currently”. Well now we understand. We understand to step up to the plate and take our lifetime experiences, blend them in with our hearts desire, together with our old dog for the lengthy roadway strategy and also we get on our way to clean slates.Internet Marketing: How It Can Work For You Right Now!
“What business can function for you now after your financial world was shaken?” You discovered the answer WAS NOT in a work fair waiting line, bent over a keyboard, or requesting task openings from anyone breathing, no issue exactly how inappropriate.Using Your Autoresponder
If you ask any knowledgeable marketing expert, they will certainly tell you that email advertising and marketing is really successful. Although there are numerous methods to utilize this sort of advertising, the bottom line is that it is among one of the most powerful ways to develop a solid online organization that can make money for decades to come.Earn Online Money – Not As Easy As They Make It Seem
Okay I’ll admit I thought that on-line money would be super simple to make. Every deal I looked at told me I can be getting cash into my account overnight or within a few days at most. Similar to the Field of Dreams I believed if I build it they will certainly come. Think what? It really did not happen! I was squashed.Learn Internet Marketing With The Wealthy Affiliate?
At the Wealthy Associate College, it is a rare occasion that a participant does not do well in web marketing within one year. Actually, 95% of the participants that stay included and operate at it for a year experience success, and make money.Local Business Online Marketing: Could My Small Business Benefit From Web Marketing?
Today, individuals are looking the Net for the very products and services that your service deals. In truth, 70% of searches for local solutions occur on the Net. Have you touched in to this enormous consumer base? Learn today if your neighborhood service can take advantage of internet marketing.The Most Effective Online Marketing Strategies
There is no lack of on the internet advertising and marketing methods so there is absolutely no reason any kind of online service owner must stress over promoting his service on the internet. On-line promotion is not easy but it is not hard either as long as you recognize which advertising and marketing approaches fit the nature of your company.
Get the Best Post By Email